Updated Nov 28, 2024
Hines Acquires Industrial Property In South San Jose From Shoe Palace For $19.9M
644 Piercy Road, San Jose, California 95138, United States
$19,900,000
$50/SF
Building Size
396,396 SF
Asset Type
Industrial
Closing
Jun 14, 2022
About this deal
AI
Located in South San Jose, the industrial property at 644 Piercy Rd. has been sold in a recent transaction. With a sale date of 06/15/2022, the property was acquired for a price of $19,900,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $19,900,000
- Address: 644 Piercy Rd.
- Market: South San Jose
The buyer in this transaction was Jeffrey Hines and Laura Hines-Pierce, representing Hines. On the other side, the seller was George Mersho, known for Shoe Palace.
The industrial sale at 644 Piercy Road, San Jose, California 95138, United States in San Jose, California sold for $19.9M in 2022. The building is 396,396 square feet, implying about 50 per square foot on the published price. Jeffrey C. Hines, George Mersho, Laura Hines-Pierce, Hines appear on the sale alongside Hines. This page is the San Jose, California file for the 644 Piercy Road, San Jose, California 95138, United States industrial sold: pricing, party profiles, and other closed industrial comps from the same San Jose sit in the Market section below. Filter that San Jose industrial set by closing date to see what else sold near 644 Piercy Road, San Jose, California 95138, United States around 2022. Published consideration for 644 Piercy Road, San Jose, California 95138, United States is $19.9M, dated 2022. Cite this Hines Acquires Industrial Property In South San Jose From Shoe Palace For $19.9M sale when underwriting similar industrial product around San Jose, California.
Players
San Jose Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93